Virtual Currency on Mobile

On the mobile meet social media panel kicking off the afternoon sessions, virtual currency was mentioned as an increasingly popular way to monetize social activity on cell phones. Neil Edwards, CEO, Cellufun, said the mobile social gaming community, said he thinks virtual currency and virtual goods (sold within games) will "dwarf" traditional banner advertising on mobile b/c it's better suited to the medium. In games, marketers can pay companies like Cellufun to get users to take certain actions, like filling out a survey, to earn virtual currency to be used in games. He said the company is on track to make several million in revenue this year and sees the virtual economy tied to games as a growing part of its business.
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